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       Marketing is the single most important activity in any Note Business.  If you don't like Marketing, get over it.  No matter what, you must market every week and every month of the year.

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President's Corner

       Happy New Year! This week I want to address the timing of selling a note. The timing of note sale can be tricky. There really is no perfect way to predict how the broader market will change in the coming months and what effect that will have on your note holders seller financed note. What we do know, however, is that most note holders have been shying away from selling for the past few years, waiting on a recovery to boost their note value.  But 2013 saw a slight improvement in the seller financed note market and many experts expect that 2014 will be a turning point. Financing options are improving for note buyers and banks are putting a new focus on lending; all signs that point to a rejuvenated market that should provide good opportunities for note holders to get better prices for their notes. Note Holders thinking about selling should be made aware that there are seasonal changes in the secondary market for selling their note that might aid them in trying to “time” the market correctly. The first quarter of the year (January – March) is traditionally on of the busiest times for note transactions, as both note buyers and note holders/sellers take advantage of the new year to pursue their goals. Conversely, July and August and during holiday periods are some of the slowest times for note transactions, as both note buyers and sellers focus on vacations and the holidays. When consulting a note holder and thinking through the optimal timing to advise the note holder when they might be able maximize his or her outcome would be beneficial to all.  I wish you all the most healthy, happy and prosperous year ever in 2014! Remember, Success Demands Action! Keep on marketing, it’s going to work! TWITA!

Question of the Week

Q - Hi Jeff,

          I am in the process of trying to set up a seller finance deal, but I have come up against a roadblock. I have a home in Salt Lake City and I would really like to do seller financing to get my feet wet. After calling a number of title companies in Salt Lake it appears I cannot do seller financing on my house because I have an FHA loan. Do you have any advice about what I should do to work around this stipulation or should I try to sell my house a more traditional way?   I really appreciate your time and help here, Jeff.   

                                          ~ Matt

A - Hi Matt!

          Thanks for the email! How much are you selling the property for (realistic value) and how much do you owe on the property?  You MIGHT be able to do what is called a wrap around or AITD (All Inclusive Deed of Trust) loan where you sell the property and carry back the note while still paying the underlying FHA loan monthly. It just depends. Not saying it is 100% doable just saying that there might be a way.  Hope this helps!                                         ~ Jeff

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